|
|
|
||
| Four townhouse deals boost Manhattan’s luxury market | ||
| 7/14/2020 5:35 PM | ||
| Manhattan’s luxury residential market is notoriously fickle, but the pandemic has made things even more unpredictable. A dozen properties listed above $4 million went into contract in the first week of July, tying for the highest total in the pandemic period. A third of the properties were townhouses. The number was four more than last week and ...Read More | ||
| Life-sciences sector proves safe haven for landlords | ||
| 7/14/2020 3:50 PM | ||
| The search for a cure for Covid-19 is lining the pockets of some landlords. While the pandemic wreaks financial havoc on hotels and retailers, landlords who cater to biotech and pharmaceutical tenants are seeing increased demand as companies research treatments for the coronavirus, according to the Wall Street Journal. The work of those tenants,...Read More | ||
| New York pols take aim at Opportunity Zones | ||
| 7/14/2020 3:29 PM | ||
| A new bill in Albany would eliminate a state tax break that benefits real estate developers in New York City. The legislation would end New York’s share of the Opportunity Zone tax break for projects in the city by decoupling the state’s capital gains tax code from the federal government’s and amending the city’s administrative code. Sponsored b...Read More | ||
| Lower Manhattan retail condo squeezed by lender as Gap refuses to pay rent | ||
| 7/14/2020 1:50 PM | ||
| Deadbeat tenants on one side, demanding lenders on the other — it’s the classic landlord dilemma of the coronavirus era. The retail condominium at 170 Broadway in Lower Manhattan is among the latest properties to feel this double squeeze, as its CMBS lender has cancelled Covid-19 relief while the sole tenant, Gap Inc., refuses to pay rent — and ...Read More | ||
| New Yorkers reckon with the suburbs. And agents rejoice | ||
| 7/14/2020 1:00 PM | ||
| Most know it as “Greenwich.” But to Danielle Malloy, it’s become “Manhattan North.” The managing broker for Nest Seekers International in Connecticut has seen so many families moving into the area, first as renters, then buying secondary homes, then moving into primary residences, that it’s transforming the market. “It was surprising to everyone...Read More | ||
| WATCH: Suri Kasirer on the influence of her father’s Holocaust stories and lobbying hard for the Vanderbilt Corridor and Cornell Tech | ||
| 7/14/2020 10:45 AM | ||
| Suri Kasirer — one of New York City’s top lobbyists — has helped influence major initiatives like the rezoning of Midtown’s Vanderbilt Corridor and the Cornell Tech campus on Roosevelt Island. And she works with some of the biggest names in real estate development and ownership in the city, including SL Green, Vornado and Tishman Speyer. K...Read More | ||
| Adam Neumann, Jeff Dagowitz get $75M refi for Chelsea dev site | ||
| 7/14/2020 10:00 AM | ||
| Former WeWork CEO Adam Neumann and partner Jeffrey Dagowitz have secured a $75 million refinancing for a Chelsea development site. The new financing from G4 Capital Partners replaces an existing $65 million mortgage on the property at 123 West 23rd Street, Commercial Observer reported. Neumann took over that mortgage from Bank of America in 2017...Read More | ||
| WeWork scores big lease at Goldman Sachs’ Jersey City office tower | ||
| 7/14/2020 9:15 AM | ||
| It’s not all doom and gloom for WeWork these days. The co-working company has landed a big deal in Jersey City while also avoiding more liabilities on its balance sheet. WeWork has leased roughly 110,000 square feet at Goldman Sachs’ 30 Hudson Street to be used as the global headquarters of Organon & Co., a planned spinoff of pharmaceutical ...Read More | ||
| Times Square Edition to reopen as Maefield clears up debt dispute | ||
| 7/14/2020 8:30 AM | ||
| The developer behind the Times Square Edition has worked out a deal to keep the hotel open. Following reports that the hotel would permanently shutter after only a year of operations, Maefield Development and its lenders and operator Marriott International have come to an agreement to reopen the property in the fall, Commercial Observer reported...Read More | ||
| New York & Company parent files for bankruptcy | ||
| 7/14/2020 8:00 AM | ||
| New York & Company’s parent company is the latest chain to file for bankruptcy as the coronavirus has piled additional pressure on an already challenging retail landscape. RTW Retailwinds, whose other brands include Fashion to Figure and Happy x Nature, filed for Chapter 11 protection Monday, and has already kicked off liquidation sales, CNB...Read More | ||
These articles are property of Forbes.com and protected by copyright. |
|||||||||||||||||||||||||||||||||||||||||||